What is Animoca Brands? The multi-billion dollar game publisher NFT supported by Giants

News hardware What is Animoca Brands? The multi-billion dollar game publisher NFT supported by Giants

Although artistic NFTs are facing enormous disinterest after their speculative peak, several players are trying to demonstrate a different usefulness of these virtual certificates. Animoca brands, ambitious on blockchain technology in games, are among the publishers who want to build the web3 gaming of tomorrow, focusing on non-fungible token technology (NFT).

NFT for gamers, the project of the Animoca brands

Animoca Brands is a Hong Kong-based game publisher focused on “bringing digital property rights to video game players and the metaverse through the use of blockchains and non-fungible tokens (NFTs).”

Through the use of these new technologies, the company wants to develop a new economic model for gamers, granting them true digital ownership of “consumables” in games.

Specifically, in Counter strike, when you buy or unlock a weapon skin, it doesn’t really belong to you: Steam owns it. By using NFT technology, Animoca wants to overcome this problem. Indeed, if this skin is an NFT, its owner has several tools that allow him to use his consumable as he pleases and thus to enforce his virtual ownership right. He can then remove it from the platform, sell it, or even use it in another game if the skin is interoperable.

Furthermore, Animoca wishes to rely on these innovations to more graciously reward the creators and developers of its ecosystem. In this sense, the company pays 95% of the income while maintaining a 5% commission.

If adoption seems remote enough due to the reluctance of some players, Animoca Brands is already experimenting with several games with this type of functionality.

Brands Animoca: the colossus of NFT-enhanced games

Initially seen as a classic mobile gaming company, the Animoca brands quickly took the path of new so-called web technologies3. In 2018, the company initiated initial financing in sectors such as blockchcain (technology behind cryptocurrencies and NFT).

After its many acquisitions, the developer quickly became a pioneer of the game specializing in the metaverse and NFT.

For example, the company owns several free-to-play stocks that incorporate cryptocurrencies or NFTs:

  • Beast Quest, a “Clash Royale-like” mobile game enhanced with NFT
    What is Animoca Brands?  The multi-billion dollar game publisher NFT supported by Giants
  • Crazy Defense Heroes, a mobile strategy game in which you can be rewarded with TOWER tokens
    What is Animoca Brands?  The multi-billion dollar game publisher NFT supported by Giants
  • Axie Inifitny, the fighting game that incorporates NFT and cryptocurrencies (AXS SLP)

    Axie Infinite

    What is Animoca Brands?  The multi-billion dollar game publisher NFT supported by Giants

In addition to web3 games, the company also invests heavily in the metaverse. He notably owns The Sandbox, the French metaverse which is one of the most popular virtual worlds.

Thanks to these numerous acquisitions, Animoca Brands is unquestionably a leader in games of this new genre, but the company does not intend to stop there …

Animoca Brands in a few figures

In a development logic, Animoca Brands continues to raise millions. In 2022 the company multiplied the spectacular fundraising.

Last January, Animoca announced that it had raised over 350 million euros. At the beginning of September the company confirmed with over 110 million euros accumulated. Among the investors, there are famous players such as Samsung Ventures or zVentures (a subsidiary of Razer Inc. Investment).

These numerous investments bring the company’s valuation to around € 5.4 billion.

“We are honored and delighted to welcome strategic investors who offer powerful opportunities for synergy and partnership. The strong demand we have seen from this fundraiser is clear support for Animoca Brands’ mission to provide digital property rights to players and build the Metaverse, ”said Yat Siu, President of Animoca Brands.

Publisher, developer and investor, Animoca Brands seems determined to develop a viable use of NFTs in the video game industry. However, the company is aware that this new type of game is struggling to be adopted. So, for now, the company is taking small steps and focusing primarily on low-cost mobile games.

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